SeAH Steel saw its shares rise by more than 4% during trading as expectations grew that U.S. President Donald Trump would announce plans for investments in the U.S. utilizing South Korea's strategic investment fund. This surge is attributed to anticipated benefits from the Alaska liquefied natural gas (LNG) project.
According to the Korea Exchange, as of 1:29 PM, SeAH Steel's stock was trading at 152,300 won, up 6,100 won (4.17%) from the previous trading day. The stock opened at 157,000 won and briefly reached 158,100 won during the session, remaining above the 150,000 won mark. Although it later gave back some gains, the stock maintained its upward trend.
The influx of buying in steel stocks is believed to stem from optimism that South Korea's investment plans in the U.S. may soon be finalized. According to Bloomberg and Reuters, President Trump is expected to announce a South Korean investment plan worth approximately $200 billion during a press briefing in the White House on September 30. Among the proposals is a plan to allocate about $54 billion (approximately 73 trillion won) to the Alaska LNG project.
The Alaska LNG project is a major infrastructure initiative that involves transporting natural gas produced in Alaska through a pipeline approximately 807 miles (1,300 km) long for export to Asia and other markets. It is considered one of the key energy projects that President Trump has been advocating.
* This article has been translated by AI.
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